Gate Way To CGL Mains : Economic Quiz

1.Fresh evaluation of every item of expenditure from the very beginning of each financial year is called ?

A) Fresh Budgeting

B) Deficit Budgeting

C) Performance Budgeting

D) Zero-based Budgeting

2.Which Five-Year Plan was terminated before the completion of its period?

A) Fifth

B) Sixth

C) Seventh

D) Eight

3.In India, Paper Currency first started in the year?

A) 1774

B) 1810

C) 1852

D) 1861

4.Development expenditure of the Central government does not include?

A) Expenditure on economic services

B) Defence expenditure

C) Grant to states

D) Expenditure on social and community services

5.Deficit Financing means that the government borrows money from the?

A) Reserve Bank of India

B) Asian Development Bank

C) World Bank

D) International Monetary Fund

6.In India, the Public Sector is most dominant in?

A) Steel production

B) Organised term lending financial institutions.

C) Transport

D) Commercial banking

7.Government imposes taxes to ?

A) Run the machinery of state

B) Uplift weaker sections

C) Check the accumulation of wealth among the rich

D) None of these

8.In India, present trend of rapid urbanisation is due to?

A) Break up of joint family system

B) Abolition of zamindari system

C) Lack of employment opportunities in rural areas.

D) Influence of cinema and electronic media

9.'Economic Planning' refers to ?

A) The allocation of resources

B) The planning of manpower

C) The mobilisation of both taxes and manpower

D) The mobilisation of taxes

10.In a free economy, inequalities of income are mainly due to ?

A) Free competition

B) Private property and inheritance

C) Differences in the marginal productivity of labour

D) Private property only

ANSWERS KEY:
1- (D)
2- (A)
3- (D)
4- (B)
5- (A)
6- (D)
7- (A)
8- (C) 
9- (A)
10-(B)